China tech stocks are red-hot this year — but 2 are plunging as the battle for food delivery dominance intensifies
2025-04-22T09:17:34Z
- Meituan and JD.com stocks fell on Tuesday amid fierce food delivery competition in China.
- JD.com accused a rival of banning riders from accepting its orders, intensifying tensions.
- Other Chinese tech stocks like Alibaba and Tencent have seen big gains this year.
Intensifying rivalry between two of China’s tech giants in the food delivery business has battered their company stocks this year.